Nuance books double-digit losses, revenue increase for Q1
Based on generally accepted accounting principles (GAAP), the Burlington, Mass.-based company recognized a net loss of $24.6 million for the quarter, compared with a net loss of $15.4 million in the same period last year.
Nuance reported GAAP revenues of $216.8 million in the first quarter, an 11 percent increase over GAAP revenues of $195 million in the prior-year quarter. It also reported non-GAAP revenue of approximately $244.4 million, which includes $27.6 million in revenue lost to accounting treatment, in conjunction with its business and technology acquisitions. Specifically, the non-GAAP earnings include revenue related to its acquisitions, primarily from Phillips Speech Recognition Systems, Tegic and VoiceSignal, the company said.